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Work out an amortization schedule

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Reference no: EM133116377

After completing your MBA, you have managed to save $50,000 for a down payment on a house.

You find the house of your dreams for $250,000 and decide to put the full $50,000 savings down on the house.

Your bank will finance the remaining $200,000 with a 30-year mortgage with an APR of 3.6%.

Mortgages are paid on a monthly basis.

Work out an amortization schedule for the 360 payments you will have to make on this mortgage.

Reference no: EM133116377

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